Kasha, a Rwandan female technology (Femtech) start-up has secured $1 million in investment from a Swedish development finance institution Swedfund. The injection increases Kasha’s Series A round to $3 million in just 2020.
Kasha is an e-commerce platform that works to improve women’s access to genuine health, hygiene and self-care products. The company sells menstrual care products, contraceptives, pharmaceuticals and a range of beauty products which are delivered to customers confidentially.
Via its innovative multi-channel platform, Kasha allows clients to place orders both online and offline, through its website, mobile app, SMS short code or phone call. It aims to be a trusted source of information especially around stigmatised products and operates in close cooperation with selected health partners.
Founded in 2016, Kasha expanded to Kenya last year. The company has since been working to grow its roster of investors successfully.
In February, 2020, Kasha took on S1 million from a Finnish development financier and investor Finnfund. In September, it secured another $1 million for the United States International Development Finance Corporation. Now, it has added to its capital a third million dollars from Swedfund.
Swedfund’s financing will enable Kasha to accelerate growth and impact across Kenya and Rwanda, improve its platform and support its expansion into other African countries.
“Kasha is thrilled to be able to partner with Swedfund, a purpose-driven investor with extensive experience investing in developing markets,” said Joanna Bichsel, Kasha Founder and CEO.
“We feel strong alignment with Swedfund in scaling Kasha to one day serve millions of women in Africa and beyond, ensuring that all women have the health and personal care products they need to live their best lives.”
The company has served over 55,000 clients, of which 65 percent are low-income in urban and rural areas. It also has delivered close to 600,000 products out of which more than 275,000 are health products.
“Social stigma around sexual and reproductive health in Africa is very common, leading to women not getting access to the right information and safe products to make empowered decisions about their health,” said Maria Håkansson, CEO of Swedfund.
Håkansson added that the investment seeks to strengthen sexual and reproductive health rights, promote women’s freedom while tackling discrimination.
editor@newtimesrwanda.com